U.S. Sanctions Threaten India's Importation of Iranian Oil

Friday, 10 August, 2018

Stark and Hoenlein expressed backing for the ongoing anti-regime protests in Iran, saying, "We hope that the Iranian government will receive the clear message from the people in the streets that they want the country's resources spent on bettering the conditions of daily life, expanding domestic investments, and addressing the vast drought that has plagued so much of the country".

U.S. President Donald Trump said he pulled out of the global nuclear pact because it was "a terrible, one-sided deal" that "failed to achieve the fundamental objective of blocking all paths to an Iranian nuclear bomb". It is Iran's biggest oil customer, taking in more than 650,000 barrels per day from the country.

Josh Ray, the firm's managing director for cyber defense, said it hasn't seen any evidence that Iran has launched any new cyber operations, but he said Iran has the capability to do it and has historically operated in a retaliatory manner. "The Iranians are destructive cyber operators", Roule said, adding that Iranian hackers have, at times, impersonated Israeli and Western cybersecurity firm websites to harvest log-in information.

President Vladimir Putin has said Russian Federation is prepared to continue its oil investment in Iran at the level of $50 billion in the face of USA plans to reimpose sanctions on the Iranian oil and gas sector on November 4.

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On Tuesday, the USA reinstated sanctions targeting the Iranian government's purchase of U.S. dollars, Iran's trade in gold and other precious metals, and its automotive sector.

Iranian President Hassan Rouhani on Wednesday warned a North Korean diplomat that the U.S.is "untrustworthy" after it reintroduced sanctions on Iran earlier this week.

Sanctions going forward are likely to continue that trend, with the USA looking to cut off as much of Iran's worldwide commerce as possible, and having no problem harming European business interests in the process. "Anyone doing business with Iran will NOT be doing business with the United States".

Indian refineries have begun canceling oil import contracts with Iran.

The Strait of Hormuz links the Persian Gulf to the Arabian Sea and is "the world's most important oil transit chokepoint", according to The US Energy Information Administration, with 20% of oil traded worldwide moving through the waterway.

Trump responded by noting that Iran could face serious consequences if it threatened the United States.

The general said he has come up with no explanation why those aggressive actions - the vast majority carried out by Iranian Revolutionary Guard swift boats - have ceased.

However, the European Union (EU) is threatening to sanction businesses that stop conducting business in Iran due to Trump's sanctions, as the EU is attempting to salvage the Iran deal.

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